286 Washington Street
$2,000,000
—
3
4,695
4,695
$426
Sold 12/6/24
Description
Discover an exciting investment opportunity in the heart of historic Salem, MA with this twenty one (21) room rooming house. Perfectly situated in a prime location, this property offers a unique chance to own a meticulously maintained property that has been owned by the same family for over 40 years. Using 2023 numbers this is being offered at an 8% cap rate with projected rents for 2024 bringing to a 9.3% cap rate. A 5% vacancy has already been factored into the gross revenue. This property is to...Discover an exciting investment opportunity in the heart of historic Salem, MA with this twenty one (21) room rooming house. Perfectly situated in a prime location, this property offers a unique chance to own a meticulously maintained property that has been owned by the same family for over 40 years. Using 2023 numbers this is being offered at an 8% cap rate with projected rents for 2024 bringing to a 9.3% cap rate. A 5% vacancy has already been factored into the gross revenue. This property is to be sold with 108-122 lafayette st as a package mls# 73264543 . Landlord is responsible for all utilities including heat/hw, electric and water/sewer. Seller is willing to explore a seller financing deal for the right buyer. Please see attached for detailed incomes and expenses. Rent roll changes weekly but can be provided upon request.
- Listed by Francesca Little • Little & Co., REALTORS®
Property Details for 286 Washington Street
Town
Salem
AreaMA-Salem
Garage Spaces0
Parking Spaces.00
LISTING UPDATED: 12/09/2024 10:20 AM
Property Details for 286 Washington Street
Status | Sold |
---|---|
MLS # | 73264544 |
Days on Market | 98 |
Taxes | $11,188 / year |
HOA Fees | - |
Compass Type | Multi Family |
MLS Type | Multi-family / 5+ Family - Rooming House |
Year Built | 1900 |
County | Essex County |
Building Information for 286 Washington Street
Stories3Residences21Year Built1900Building Size-Lot Size0.07 AC / 2,966 SF
Property Information for 286 Washington Street
Property History for 286 Washington Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 286 Washington Street
Taxable ValueLand$145,200Additions$842,000Total$987,200
Tax Record2024$11,471 ($956 / month)
Home Facts
Baths3Total Finished SqFt4,695 SqFtAbove Grade Finished SqFt4,695 SqFtUnfinished Basement SqFt1,565 SqFtStories3Lot Size2,966 SqFtStyleMulti-Family Res (5+ Units)Year Built1900ZoningR3CountyESSEXAPNSALE M:34 L:0259
Schools near 286 Washington Street
This home is within Salem School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 5 | |||
Public - | PK to 5 | |||
Public - | K to 5 | |||
Public - | K to 5 |
Rating | School | Distance |
---|---|---|
Bates Elementary School PublicPK to 5 | ||
Horace Mann Laboratory PublicPK to 5 | ||
Carlton Elementary School PublicK to 5 | ||
Witchcraft Heights Elementary School PublicK to 5 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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